i


DECEMBER 2017

TABLE OF CONTENTS


November

December
Month-on-
Month
Change (%)
Z.S.E. Mining Index1
126.86
142.40
12.25
Z.S.E. Industrial Index1
376.69
333.02
11.59
National Payment System Transactions
(US$ millions)
11 162.41
11 596.93
3.90
Money Supply (US$ millions)2
8 020.03
8 106.22
1.07
Money Supply (M3) Annual Growth2 (%)
47.97
43.77

Yearly Inflation3 (%)
2.94
3.46

Monthly Inflation3 (%)
0.74
0.53

Nominal Lending Rate2 (% per annum)
4.45-18.00
4.45-18.00

Sources:
1. Zimbabwe Stock Exchange (ZSE)
2. Reserve Bank of Zimbabwe (RBZ)
3. Zimbabwe National Statistics Agency (ZIMSTAT)
SELECTED ECONOMIC INDICATORS

INTERNATIONAL COMMODITY PRICE
DEVELOPMENTS

During
the
month
of
December
2017,
international commodity prices of precious and
base metals were generally subdued, owing to
weak investment demand. Crude oil prices,
however, firmed following global supply
disruptions due to geopolitical tensions in the
Middle East.

Precious Metals

Precious metal prices were weighed down by a
stronger U.S dollar, as investors shifted their
focus to interest bearing assets, amid progress
on U.S tax overhauls. This followed interest rate
hikes by the Federal Reserve effected in
December 2017. Gold prices retreated by
1.45%, from US$1,282.89/oz recorded in the
previous month to US$1,264.26/oz, during the
month under review. Similarly, platinum prices
decreased by 2.67%, to US$909.08/oz in
December

from
US$934.02/oz
in
November 2017.
Figure 1: Precious metal prices
Source: Bloomberg, 2017


Base Metals
Base metal prices were generally depressed
during the month of December 2017, as the US
interest rate hike dampened their demand
prospects. Rising global stockpiles and slowing
demand from China, the world’s largest
consumer of base metals, also exerted
downward pressure on the prices. Consequently,
copper and nickel monthly average prices
slumped
by
0.51%
and
5.39%
to
US$6,828.97/tonne and US$11,436.94/tonne,
respectively.
Figure 2: Base metal prices
Source: Bloomberg, 2017
Brent Crude Oil
Crude oil prices maintained a positive
trajectory, registering a 1.67% increase to
US$63.85/barrel, during the month under
review. This was underpinned by fears of supply
disruptions, following news of a pipeline
explosion in Libya, which reduced oil
production by 100 000 barrels a day.

Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Gold
Platinum

12000

Dec-16
Feb-17
Apr-17
Jun-17
Aug-17
Oct-17
Dec-17
NICKEL US/TON
COPPER US$/TON
Copper
Nickel

Figure 3: International crude oil prices
Source: Bloomberg, 2017
MONETARY DEVELOPMENTS1

Broad money supply2 stood at US$8 106.22
million in December 2017, registering an annual
growth of 43.77%, from $5 638.28 million in
December 2016. The growth was due to
increases in transferable deposits, 56.29%; and
negotiable certificates of deposits3, 9.13%. Time
deposits, however, declined by 4.75%. Bond
notes and coins in circulation increased from
$70.17 million in December 2016, to $331.94
million in December 2017.

On a monthly basis, broad money increased by
1.07%, from US$8 020.03 million in November
2017 to US$8 106.22 in December 2017.


1 Provisional figures
2 Beginning January 2017, broad money is redefined using
IMF’s Monetary and Financial Statistics Manual of 2000. The

Source: Reserve Bank of Zimbabwe, 2017
Broad money comprised of transferable or
transitory deposits, 77.77%; time deposits,
17.29%; currency in circulation, 4.09%; and
negotiable certificates of deposits, 0.85%,
during the month under review.
major change is the exclusion of Government deposits held by
banks from broad money.
3 NCDs are also referred to as securities included in broad
money.

Oct-16
Nov-16
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
-10


US$ BILLIONS
Figure 8: Money Supply
M3
M3 Annual Growth rate

Source: Reserve Bank of Zimbabwe, 2017
Bank lending to local economic agents recorded
a 43.07% increase, from $7 481.42 million in
December 2016 to $10 703.45 million in
December 2017. The growth was largely driven
by a 73.91% expansion in net credit to
Government. On a month-on-month basis,
domestic
credit
grew
by
2.32%,
from
$10 290.52 million in November 2017 to
$10 703.45 in December 2017.
Credit to the private sector increased by 5.83%,
from $3 513.53 million in December 2016 to $3
718.33 million in December 2017. On a monthon-month basis, credit to the private sector
recorded a modest growth of 0.67%, from $3
693.55 million in November 2017 to $3 718.33
in December 2017.
Source: Reserve Bank of Zimbabwe, 2017
During the month under analysis, outstanding
credit to the private sector was distributed as
follows:
households, 23.40%;
agriculture,
18.44%;
services,
14.13%;
distribution,
12.58%; manufacturing, 11.57%; financial
organisations and investments, 10.97%; mining,
4.77%; construction, 2.04%; transport; and
communications, 1.57%.
Private sector credit was utilised for inventory
build-up, 28.1%; consumer durables, 19.1%;
fixed capital investment, 9.7%; and pre and post
shipment financing, 1.1%. Amounts channelled
towards other recurrent expenditures constituted
39.1% of the total outstanding loans and
advances, during the month under review.
STOCK MARKET DEVELOPMENTS
The Zimbabwe Stock Exchange (ZSE) was
characterized by bearish sentiments during the
month of December 2017. Trading on the local
bourse was dominated by low activity in some
selected heavyweight counters, largely due to
investor profit-taking and portfolio rebalancing,
Transferable
Deposits
77.77%
Other
Deposits
(Time)
17.29%
NCDs
0.85%
Bond
Notes and
Coins
4.09%
Figure 9: Composition of
Money Supply November

Households
23.4%
Agriculture,
18.4%
Manufacturing,
11.6%
Services,
14.1%
Distribution,
12.6%
Financial
Organisati
ons,
11.0%
Mining,
4.8%
Transport and
Communication,
1.6%
Construction,
2.0%
Other, 0.5%
Figure 10 : Sectoral Distribution of
Credit

ahead of the impending new trading year.
Resultantly, the mainstream index declined by
11.59%, to close the month under review at
333.02 points. The resources index, however,
registered a 12.25% increase to close the year at
142.40 points.
Source: Zimbabwe Stock Exchange, 2017
Share trading volumes increased by 329.64% to
844.2 million in December 2017, compared to
196.5 million registered in November 2017.
This was largely due to notable block trades in
Nicoz Diamond, First Mutual Properties, OK
Zimbabwe and Meikles shares. The block share
trades were as follows; Nicoz Diamond
(354.4 million); First Mutual Properties (111.1
million); OK Zimbabwe (40.2 million); and
Meikles (2.25 million), which exchanged hands
at 3.97 cents; 5.70 cents; 20 cents; and 28.01
cents, respectively.
Turnover value, however, declined by 63.73%,
from US$207.52 million realized in the previous
month to US$75.27 million in December 2017.
Foreign portfolio investment improved in
December 2017, with net inflows at US$4.93
million, compared to net outflows of US$19.76
million in November 2017.
Source: Zimbabwe Stock Exchange, 2017
Developments on the local bourse, during the
month under review, resulted in a US$1.20
billion loss in capitalisation, to close at US$9.58
billion. On a year-on year basis, however, the
ZSE capitalization increased by 139.04%.

INFLATION OUTTURN

Annual Inflation

The annual headline inflation remained in the
projected levels, increasing by 0.49% to 3.46%
in December 2017. This was occasioned by
increases in both food and non food items.
Annual food inflation increased from 5.65% in
Novemebr 2017, to 6.60% in December 2017.
Non-food inflation also rose, from 1.74% in
November 2017 to 2.00% in December 2017.

31-Dec-16
31-Jan-17
28-Feb-17
31-Mar-17
30-Apr-17
31-May-17
30-Jun-17
31-Jul-17
31-Aug-17
30-Sep-17
31-Oct-17
30-Nov-17
31-Dec-17
Figure 11: ZSE Indices
Industrial
Mining


1,000
Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Values Traded (US$ Millions)
Volumes Traded (Millions)
Figure 2: ZSE Monthly Volumes
and Values Traded
Volume
Turnover

Figure 12 shows annual inflation developments.

Source: ZIMSTAT, 2017
Monthly Inflation

Month-on-month inflation stood at 0.53% in
December 2017, down from 0.7% in November
2017. This was on the back of a slowdown in
prices of both food and non-food categories.


Source: ZIMSTAT, 2017
Monthly food inflation declined from 1.74% in
November 2017 to 1.29% in December 2017.
Declines in prices of bread and cereals,
vegetables, sugar, jam, and honey weighed
down food inflation.
Month-on-month
non-food
inflation
also
declined, from 0.26% in November 2017 to
0.16% in December 2017. This was largely
driven by declines in housing, water,
electricity, gas and other fuels.

NATIONAL PAYMENTS SYSTEM

The value of transactions processed through the
National Payment System (NPS) stood at
US$11.6 billion in December 2017, compared to
US$11.2 billion in November 2017. In volume
terms, total NPS transactions registered an
increase of 19%, from 123.8 million in
November 2017 to 148.1 million in December
2017.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through the
RTGS system decreased by 6.1%, from
US$6.26 billion in November 2017 to US$5.88
billion in December 2017. RTGS transaction
volumes, also registered a 9% decline to close
the month under review at 524 204 transactions.
Source: Reserve Bank of Zimbabwe, 2017


Figure 12: Annual Inflation
(%)
Headline Inflation
Food
Non Food

Figure 13: M-O-M Inflation


VALUE IN US$ BILLIONS
VOLUME IN THOUSANDS
Figure 14: ZETSS Volumes and
Values
Volume
Value

Cash transactions
The total value of cash transactions was higher
at US$245.92 million in December 2017,
compared to US$209.07 million in November
2017.
Mobile and Internet Based Transactions
Mobile and internet based transactions also
increased to US$ 4.1 billion in December 2017,
from US$3.36 billion in November 2017.


Card Based Transactions
The total value of card based transactions stood
at US$ 794.74 million during the month under
review, up from US$690.13 million recorded in
November 2017.
Cheque Transactions
During the month of December 2017, the value
of cheque transactions decreased to US$3.6
million, from US$4.88 million in November
2017.

FEBRUARY 2018
RESERVE BANK OF ZIMBABWE

Statistical Tables

Monetary Statistics
1. Depository Corporations Survey

2. Central Bank Survey

3. Other Depository Corporations Survey

Other Depository Corporations

4.1 Assets

4.2 Liabilities

Commercial Banks
5.1 Assets

5.2 Liabilities

Building Societies
6.1 Assets

6.2 Liabilities

Sectoral Analysis of Bank Loans and Advances and Deposits

7.1 Sectoral Analysis of Commercial Banks Loans and Advances

7.2 Sectoral Analysis of Commercial Banks Deposits

Interest Rates

8.1 Lending Rates

8.2 Banks Deposit Rates

Inflation

9.1 Monthly Inflation

9.2 Yearly Inflation

External Statistics

10. Total External Debt Outstanding by Debtor

11. Exchange Rates

12. Zimbabwe Stock Exchange Statistics

13. National Payments System Statistics


13.1 Values of Transactions

13.2 Volumes of Transactions

14. Merchandise Trade Statistics

Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Net Foreign Assets

Central Bank(net)

Foreign Assets

Foreign Liabilities

Other Depository Corporations(net)

Foreign Assets

Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Claims on Central Government(net)

Claims on Central Government

Central Bank

ODCs

Less Liabilities to Central Government

Central Bank

ODCs

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Other Items(Net)

Shares and Other Equity

Liabilities to Other Financial Corporations

Restricted Deposits

Deposits and Securities Excluded from Base Mo

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broa

Broad Money-M2

Other Deposits

Narrow Money-M1

Transferable Deposits

Currency Outside Depository Corporations

Source: Reserve Bank of Zimbawe
Notes:
(i) Depository corporations survey - formerly Monetary Survey.
(ii) Broad money redefined using IMF's Monetary and Financial Statistics Manual of 2000. Major changes include exclusion of Government deposits held by banks from broad money.
(iii) Transferable deposits made up of demand and savings deposits.
(iv) NCDs are also referred to as securities included in broad money.
(v) All classes of time deposits, short and long term are classified as time deposits, which are also termed other deposits.
(vi) Credit to the private sector now excludes claims on other financial corporations, as well as claims on state and local government (local authorities)
(vii) Depository corporations made up of the Central Bank and other depository corporations
(viii) Other depository corporations (ODCs) - Commercial banks, merchant banks, building societies and POSB.
(ix) In December 2017, the statistics were adjusted in restrospect by reclassifying Securities issued under Aftrades from claims on government to claims on central bank
(x) In December 2017, the statistics were adjusted in restrospect by reclassifying amounts accessed by banks under the Aftrades from liabilities to Other Depository corporations and Other Financial Corporations to liabilities to Central Ban
TABLE 1: DEPOSITORY CORPORATIONS SURVEY (US$ '000)

Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Net Foreign Assets

Claims on Non Residents

Official Reserves Assets

Other Foreign Assets

Less Liabilities to Non Residents

Short Term Liabilities

Other Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Of which: Securities Other than Shares

Loans

Loans and Advances

Legacy Debt

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on Other Depository Corporations

Of which: Loans

Other Liabilities to ODCs

Of which: Aftrades Balances

Securities

Other Items(Net)

Shares and Other Equity

Other Items(Net)

Liabilities to Other Resident Sectors

Deposits and Securities Excluded from Base

Monetary Base Incl. foreign currency clearing balances
Monetary Base
1,472,735.173 1,499,773.004 1,604,587.411 1,604,425.179 1,659,746.254 1,725,348.049 1,948,879.104 2,064,204.942 2,364,937.964 2,461,275.759 2,520,592.752 2,709,468.388 2,665,433.989
Bond Coins

Bond Notes

Liabilities to ODCs

Reserve Deposits

Other
1,385,011.220 1,395,502.072 1,467,941.594 1,446,635.592 1,492,786.162 1,520,837.740 1,728,301.189 1,838,460.100 2,135,122.534 2,166,837.091 2,181,116.178 2,331,782.192 2,285,501.169
Private Deposits

Source: Reserve Bank of Zimbawe
TABLE 2: CENTRAL BANK SURVEY (US$'000)

Dec-16
Jan-17
Feb-17
Mar-17
Apr-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
Net Foreign Assets

Claims on Non Residents

Of Which: Foreign Currency

Deposits

Other

Less Liabilities to Non Residents

Of Which: Deposits

Loans

Other

Net Domestic Assets (NDA)
5,549,018.98

5,580,169.12

5,639,870.63

5,709,300.08

5,875,774.29

5,952,966.10

6,280,977.27

6,298,478.80

6,804,652.82

7,083,536.41

7,220,331.96

7,501,636.53

7,576,382.51

Domestic Claims
5,062,767.51

5,005,600.80

5,033,682.47

5,146,513.06

5,166,270.84

5,256,547.58

5,399,799.92

5,318,218.47

5,539,090.73

5,732,954.31

5,889,257.98

6,058,686.31

6,286,090.74

Net Claims on Central Government
1,379,025.29

1,466,527.53

1,529,297.84

1,527,497.74

1,596,904.80

1,611,970.31

1,688,140.84

1,647,948.26

1,750,215.27

1,916,341.54

2,041,284.38

2,194,286.98

2,331,967.01

Claims on Central Government
1,421,190.70

1,519,591.25

1,584,557.48

1,614,398.84

1,673,138.81

1,687,074.29

1,761,855.63

1,726,007.68

1,838,546.24

1,971,537.77

2,084,380.00

2,229,035.44

2,426,572.26

Securities
1,403,396.87

1,503,705.38

1,569,588.93

1,598,695.64

1,657,317.09

1,670,327.43

1,713,932.99

1,680,825.17

1,797,227.42

1,930,046.62

2,049,535.06

2,196,782.06

2,397,156.98

Loans
17,793.82

15,885.88

14,968.55

15,703.20

15,821.72

16,746.86

47,922.65

45,182.51

41,318.82

41,491.15

34,844.95

32,253.38

29,415.28

Other
-

-

-

-

-

-

-

-

-

-

-

-

-

Less Liabilities to Central Government
42,165.41

53,063.72

55,259.64

86,901.10

76,234.01

75,103.98

73,714.80

78,059.42

88,330.97

55,196.23

43,095.62

34,748.45

94,605.25

Of which: Deposits
42,165.41

53,063.72

55,259.64

86,901.10

76,234.01

75,103.98

73,714.80

78,059.42

88,330.97

55,196.23

43,095.62

34,748.45

94,605.25

Other

Claims on Other Sectors
3,683,742.22

3,539,073.27

3,504,384.63

3,619,015.32

3,569,366.04

3,644,577.26

3,711,659.09

3,670,270.21

3,788,875.46

3,816,612.76

3,847,973.60

3,864,399.32

3,954,123.73

Other Financial Corporations
65,766.93

63,104.52

27,907.03

28,798.81

30,480.82

33,050.68

87,624.43

35,875.21

29,252.04

30,507.19

29,078.55

31,791.66

45,379.41

State and Local Government
34,237.41

35,909.11

35,006.53

34,312.18

34,732.93

36,595.52

35,573.02

34,059.17

34,223.63

31,707.35

33,198.40

38,416.75

46,177.22

Public Non Financial Corporations
86,631.35

84,675.48

84,417.84

86,380.62

90,267.74

88,656.44

98,878.45

142,891.35

171,759.70

142,254.70

124,030.93

130,803.39

168,917.77

Private Sector
3,497,106.53

3,355,384.15

3,357,053.23

3,469,523.72

3,413,884.55

3,486,274.63

3,489,583.19

3,457,444.48

3,553,640.10

3,612,143.52

3,661,665.72

3,663,387.53

3,693,649.33

Claims on the Central Bank
1,643,116.38

1,684,125.02

1,692,364.62

1,734,347.30

1,843,336.43

1,856,234.16

2,034,646.02

2,168,966.56

2,440,107.43

2,495,688.75

2,525,633.85

2,671,576.69

2,604,575.55

Currency
16,563.071

20,206.055

19,301.209

12,559.660

10,691.409

13,438.609

7,361.926

7,148.374

12,310.361

11,999.682

8,696.697

9,788.767

12,577.130

Other Claims including Reserves
1,626,553.31

1,663,918.96

1,673,063.41

1,721,787.64

1,832,645.02

1,842,795.55

2,027,284.09

2,161,818.18

2,427,797.07

2,483,689.07

2,516,937.16

2,661,787.92

2,591,998.42

Liabilities to the Central Bank
68,634.82

39,193.97

41,437.92

43,486.92

42,006.71

42,321.73

44,233.20

32,516.41

20,544.52

20,550.87

32,863.80

51,156.39

113,727.10

Other Items(Net)
1,088,230.09

1,070,362.72

1,044,738.54

1,128,073.36

1,091,826.28

1,117,493.91

1,109,235.47

1,156,189.82

1,154,000.82

1,124,555.78

1,161,696.08

1,177,470.09

1,200,556.69

Shares and Other Equity
1,271,826.05

1,272,987.21

1,279,285.69

1,301,867.36

1,295,023.50

1,310,286.87

1,325,276.01

1,330,874.62

1,342,135.53

1,356,314.17

1,398,886.31

1,422,958.60

1,530,397.97

Liabilities to other ressident sectors
1,918.34

1,912.23

1,917.51

151.35

(115.98)

(77.72)

2,369.41

3,063.52

2,286.29

11,565.72

9,175.78

9,031.56

6,152.75

Other Items(Net)
(185,514.31)

(204,536.72)

(236,464.66)

(173,945.36)

(203,081.24)

(192,715.24)

(218,409.95)

(177,748.32)

(190,420.99)

(243,324.12)

(246,366.01)

(254,520.08)

(335,994.03)

Deposits and Securities Included in Broad Mon
5,567,120.14

5,579,371.63

5,654,297.27

5,734,703.72

5,960,513.96

6,009,210.65

6,278,455.63

6,345,429.42

6,858,037.73

7,177,759.33

7,356,243.13

7,652,130.15

7,738,868.88

Deposits Included in Broad Money
5,504,225.78

5,528,809.61

5,594,968.03

5,674,542.57

5,897,221.76

5,947,817.72

6,212,788.17

6,279,146.84

6,786,983.35

7,121,929.07

7,293,267.77

7,585,647.37

7,670,230.41

Transferable Deposits

Money Market Instruments
62,894.35

50,562.02

59,329.24

60,161.15

63,292.20

61,392.93

65,667.46

66,282.58

71,054.38

55,830.26

62,975.36

66,482.78

68,638.47

Source:Reserve Bank of Zimbabwe,2017
TABLE 2 : OTHER DEPOSITORY CORPORATIONS SURVEY ( US '000)

Foreign
TOTAL
End of
Notes
Bond
&
Balances
Balances with
Balances
Other Claims
Notes &
Coin
with
Other Depository
with
on
Government

Local Governemt
Public Enterprises
Other

Government
Local
Public
Other Institutional Units

Other cliams
Contigent Assets
Other Assets
Non Financial
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities
Government
Enterprises
Assets

Jan
1.22


Feb
1.44


Mar
1.53


Apr
1.55


May
1.53


Jun
1.61


Jul
1.62


Aug
1.58


Sep
1.63


Oct
1.42


Nov
4.57


Dec
16.56


Jan
20.21


Feb
19.30


Mar
12.56


Apr
10.69


May
13.44


Jun
7.36


Jul
7.15


Aug
12.31


Sep
12.00


Oct
8.70


Nov
9.79


Dec
12.58


Source:Reserve Bank of Zimbabwe,2017
Notes
1.Government securities includes treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households, other financial corporations.
TABLE 4.1: OTHER DEPOSITORY CORPORATIONS -ASSETS
US$ millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Contigent
Other
TOTAL
and
Liablities
Liablities
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository
Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Source:Reserve Bank of Zimbabwe,2017
TABLE 4.2 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES
Deposits
Amounts Owing to
US$ millions

TOTAL
End of
Foreign
Bond
Notes
Balances
Balances with
Balances
Other Claims
Local
Public
Other
Contigent
Non Financial
Notes &
&
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Government
Government
Enterprises
Institutional Units3
Other claims
Assets
Other Assets
Assets
Coins
Coin
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
1.05


Feb
1.21


Mar
1.31


Apr
1.35


May
1.38


Jun
1.42


Jul
1.45


Aug
1.36


Sep
1.40


Oct
1.27


Nov
4.24


Dec
14.07


Jan
17.72


Feb
16.29


Mar
10.74


Apr
9.82


May
12.36


Jun
7.01


Jul
6.71


Aug
11.80


Sep
11.43


Oct
8.10


Nov
9.04


Dec
11.43


Source:Reserve Bank of Zimbabwe,2017
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households, other financial corporations,
TABLE 5.1: COMMERCIAL BANKS -ASSETS
US$ millions
Debt Securities
Loans and Advances

US$ millions
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
Debt Securities
Foreign Liabilities
RBZ
Other Depository Other Finacial
Capital
Contigent
Other
from the public
Corporations
Corporations
Corporations
and
Liablities
Liablities
TOTAL
Reserves

Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Source:Reserve Bank of Zimbabwe,2017
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

Foreign
Other Assets
Non Financial
TOTAL
End of
Notes
Assets
Bond
&
Balances
Balances with
Balances
Other Claims
Notes &
Coin
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Mortgages
Government
Other
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
0.13


Feb
0.20


Mar
0.19


Apr
0.19


May
0.14


Jun
0.18


Jul
0.16


Aug
0.20


Sep
0.21


Oct
0.12


Nov
0.14


Dec
1.72


Jan
2.35


Feb
1.19


Mar
1.65


Apr
0.74


May
0.92


Jun
0.34


Jul
0.39


Aug
0.44


Sep
0.56


Oct
0.57


Nov
0.75


Dec
1.05


Source:Reserve Bank of Zimbabwe,2017
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households, other financial corporations,
TABLE 6.1: BUILDING SOCIETIES -ASSETS
US$ millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Other
TOTAL
and
Liablities
End of
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Jan


Feb


Mar


Apr


May


Jun


Jul


Aug


Sep


Oct


Nov


Dec


Source:Reserve Bank of Zimbabwe,2017
Amounts Owing to
TABLE 6.2: BUILDING SOCIETIES -LIABILITIES
US$ millions

AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
END OF


INVESTMENTS
ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source:Reserve Bank of Zimbabwe,2017
/1 Including the only merchant bank still in operation.
TABLE 7.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES/1
US$ ('000)

END OF
AGRICULTURE CONSTRUCTION COMMUNICATIONS
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
INVESTMENTS ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source: Reserve Bank of Zimbabwe,2017
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
US$ ('000)

End Period
Nominal Lending
Rates 1
Individuals
Corporate

Jan
6.00-22.00
12.08
7.38
Feb
4.00-22.00
11.48
7.29
Mar
4.00-22.00
11.44
7.16
Apr
4.00-22.00
11.50
7.20
May
4.00-18.00
11.43
7.35
Jun
4.00-18.00
11.40
7.48
Jul
4.00-18.00
10.69
6.79
Aug
4.00-18.00
10.67
6.84
Sep
4.00-18.00
10.66
6.95
Oct
4.00-18.00
10.70
6.93
Nov
4.00-18.00
10.69
6.99
Dec
4.00-18.00
10.59
6.87

Jan
4.00-18.00
10.61
6.68
Feb
4.00-18.00
10.06
6.52
Mar
4.00-18.00
9.12
7.02
Apr
4.00-18.00
9.25
7.02
May
4.00-18.00
9.17
7.03
Jun
4.00-18.00
9.01
7.05
Jul
4.00-18.00
8.94
7.05
Aug
4.00-18.00
8.88
6.95
Sep
4.45-18.00
8.86
7.01
Oct
4.45-18.00
9.66
7.06
Nov
4.45-18.00
9.66
7.03
Dec
4.45-18.00
9.39
7.00
Source:Reserve Bank of Zimbabwe, 2017
Notes
TABLE 8.1: LENDING RATES (percent per annum)
1. Nominal lending rates depict the range of rates quoted by banks.
Commercial Banks
Rates

END OF
SAVINGS
3 MONTHS

Jan
0.50-8.00
0.75-17.00
Feb
0.50-8.00
0.75-17.00
Mar
0.50-8.00
0.75-17.00
Apr
0.50-8.00
0.75-17.00
May
0.50-8.00
0.75-17.00
Jun
0.50-6.00
0.75-17.00
Jul
0.50-6.00
0.75-17.00
Aug
0.50-6.00
1.00-17.00
Sep
0.50-6.00
1.00-17.00
Oct
0.50-6.00
1.00-17.00
Nov
0.50-6.00
1.00-17.00
Dec
0.50-6.00
1.00-17.00

Jan
0.50-6.00
1.00-17.00
Feb
0.50-6.00
1.00-17.00
Mar
0.50-6.00
1.00-17.00
Apr
0.50-6.00
1.00-17.00
May
0.50-6.00
1.00-9.50**
Jun
0.50-6.00
1.00-12.00
Jul
0.50-6.00
1.00-12.00
Aug
0.50-6.00
1.00-12.00
Sep
0.50-12.00
0.75-8.00
Oct
0.50-12.00
0.75-8.00
Nov
0.50-12.00
0.75-8.00
Dec
0.50-12.00
0.75-8.00
Source:Reserve Bank of Zimbabwe, 2017
* Deposit rates depict the range of rates qouted by banks.
**Banks have adjusted their costs of holding deposits following the call by the RBZ to reduce lending rates.
TABLE 8.2 : BANK DEPOSIT RATES (percent per annum)
COMMERCIAL BANKS

FOOD
INFLATION
ALL
ALCOHOLIC
BEVERAGES
CLOTHING
HOUSING,
WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNICATION
RECREATION
&
EDUCATION
RESTAURANTS
&
MISC.
TOTAL NON
FOOD &
ITEMS
& TOBACCO
FOOTWEAR
ELECTRICTY,
GAS
AND
CULTURE
HOTELS
GOODS &
FOOD
NON
ALCOHOLIC
BEVERAGES
& OTHER
EQUIPMENT
SERVICES
FUELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source:Zimstat, 2017
NON-FOOD INFLATION
TABLE 9.1 : MONTHLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
( December 2012 = 100)

F OOD
IN F LA TION
A LC OHOLIC
C LOTHIN G
HOUS IN G,
WA TER ,
F UR N ITUR E
M IS C .
F OOD &
B EVER A GES
&
ELEC TR IC T
Y, GA S
A N D
R EC R EA TION
&
R ES TA UR A N TS
&
GOOD S &
TOTA L N ON
N ON
A LC OHOLIC
A LL
& TOB A C C O
F OOTWEA R
& OTHER
EQUIP M EN T
C ULTUR E
HOTELS
S ER VIC ES
F OOD
B EVER A GES
ITEM S
F UELS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source: Zimstat, 2017
C OM M UN IC A TION
TR A N S P OR T
HEA LTH
ED UC A TION
N ON -F OOD IN F LA TION
TABLE 9.2 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(December 2012 = 100)

(US$ millions)
End Period

Long-Term External Debt

Government

Bilateral Creditors

Multilateral Creditors

Private Creditors

Public Enterprises


Bilateral Creditors

1,155

Multilateral Creditors

Private Creditors

Monetary Authorities

Multilateral Creditors - IMF

Private


Short-Term External Debt

1,198
1,382
1,289


Supplier's Credits

Reserve Bank

Private


Total External Debt

Source: Ministry of Finance & Economic Development, 2017; & Reserve Bank of Zimbabwe, 2017
TABLE 10: ZIMBABWE: EXTERNAL DEBT OUTSTANDING BY DEBTOR (INCLUDING ALL ARREARS)

SOUTH ARFICAN
BOTSWANA
JAPANESE
EURO/2
POUND
END OF
RAND/1
PULA/1
YEN/1
STERLING/2

Jan

feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source: Reserve Bank of Zimbabwe, 2017
TABLE 11 : SELECTED INTERNATIONAL EXCHANGE RATES
1. Foreign currency per US dollar.
2. US dollars per unit of foreign currency.

Market Capitalisation
END OF
US$ millions

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source:Zimbabwe Stock Exchange ,2017
Indices
TABLE 12: ZIMBABWE STOCK MARKET STATISTICS
Industrial
Market Turnover
US$ million
Volume of Shares
Mining

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE

INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source:Reserve Bank of Zimbabwe, 2017
TABLE 13.1 : ZETSS AND RETAIL PAYMENTS
Values of Transactions (US$ millions)

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Annual Total


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Source:Reserve Bank of Zimbabwe, 2017
TABLE 13.2 : ZETSS AND RETAIL PAYMENTS
Volumes of Transactions (000's)

END OF
EXPORTS
IMPORTS
TOTAL TRADE TRADE BALANCE

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Total


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Source: Zimstat, 2017
TABLE 14 : MERCHANDISE TRADE STATISTICS
(US$ millions)